Call money ends low at 2.00-2.50 per cent

By Staff
|
Google Oneindia News

Mumbai, May 10 (UNI) Call rates continued its downward journey and ended at 2.00-2.50 per cent today as compared to the previous close of 3.25-3.50 per cent.

During the day it touched a high of 4.25 per cent and a low of 2 per cent.

Ahead of the reporting cycle, traders reported that most of the banks might have covered their reserve requirements in the last week. Consequently, demand for funds from the banks was on the lower side along with improved liquidity helped call rates to be softer, traders said.

At the LAF window, the Reserve Bank of India (RBI) received 43 bids worth Rs 34,495 crore at the one-day reverse repo auction but accepted only Rs 2,999 crore, while no bid was received at the one-day repo auction.

At the CBLO segment, 461 bids for Rs 23,948 crore were traded in the range of 0.10-2.00 per cent.

Inter bank rates are expected to hover around the current level in spite of reporting Friday, dealers added.

UNI

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